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Sept 7 (Reuters) - Oil and gas producer W&T Offshore aims to refinance notes due in late 2023 using some of the proceeds from closing profitable hedges, Chief Executive Tracy Krohn said on Wednesday.
The company also plans to pursue new properties in the U.S. Gulf of Mexico where it has operated for 40 years as its trims debt and builds cash reserves, Krohn said at the Barclays CEO Energy-Power Conference.
W&T Offshore historically has acquired assets in the Gulf of Mexico, expanded their production and used the cash flow to pay down debt and finance further acqusitions.
On the company's returns, Kohn said he is leaning toward dividends over share buybacks, noting the sizeable stake held by management.
(Reporting by Gary McWilliams, editing by Deepa Babington)